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Previous: ADVANTA MORTGAGE LOAN TRUST 1998-4A, 8-K, 1999-07-30 |
Next: ADVANTA MORTGAGE LOAN TRUST 1998-4C, 8-K, 1999-07-30 |
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: July 26, 1999
ADVANTA Mortgage Loan Trust 1998-4A, 1998-4B, 1998-4C
New York 333-52351-02 "Pending"
333-52351-03
333-52351-04
c/o ADVANTA Mortgage Corp., USA
Attn: H. John Berens
10790 Rancho Bernardo Road
San Diego, CA 92127
(858) 676-3099
Item 5. Other Events
Information relating to the distributions to Certificate holders
for the June, 1999 Monthly Period of the Trust in respect of
the Mortgage Backed Notes, Series 1998-4, Class A, Class B
and Class C (the "Certificates") issued by the Registrant and the
performance of the Trust (including distributions of principal
and interest, delinquent balances of Home Loans,
and the Subordinated amount remaining), together with certain other
information relating to the certificates, is contained in the
Monthly Report for the Monthly Period provided to certificateholders
pursuant to the Pooling and Servicing Agreement (the "Agreement")
dated as of November 1, 1998 between ADVANTA Mortgage Corp.,
USA as Servicer, and Bankers Trust Company, as Trustee.
Item 7. Financial Statements, Exhibits
Exhibit No. Exhibit
1. Monthly Report for the June, 1999 Monthly
Period relating to the Mortgage Backed Notes
Series 1998-4, Class A, Class B, and Class C
issued by the ADVANTA Mortgage Loan
Trust 1998-4A, 1998-4B, 1998-4C.
EXHIBIT INDEX
Exhibit
1. Monthly Report for the June, 1999 Monthly
Period relating to the Mortgage Backed Notes, Series
1998-4, Class A, Class B, and Class C issued by the
ADVANTA Mortgage Loan Trust 1998-4A, 1998-4B, 1998-4C.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.
ADVANTA Mortgage Loan Trust 1998-4A, 19984-B, 1998-4C.
BY: ADVANTA Mortgage Corp., USA
BY: /s/ H. John Berens
H. John Berens
Senior Vice President
Advanta Mortgage
July 30, 1999
<TABLE>
EXHIBIT 1
ADVANTA Mortgage Loan Trust 1998-4A
Statement to Certificateholders
<CAPTION>
Original Prior
Face Principal
Class Value Balance Interest Principal Total
<S> <C> <C> <C> <C> <C>
A 650,000,000. 599,360,914. 2,989,603 10,179,992 13,169,596.28
A Certificate -
Totals 650,000,000. 599,360,914. 2,989,603 10,179,992 13,169,596.28
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
A 589,180,922. 5.792500% 5.863750%
A Certificate NA NA
Totals 589,180,922.11
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
A 00755WGC4 922.093715 4.599391 15.661527 20.260918 906.432188
A Certificate 0.000000 0.000000 0.000000 0.000000 0.000000
</TABLE>
<TABLE>
Delinquent Loan Information:
<CAPTION>
90+ Days Loans Loans
30-59 60-89 excldg f/c,REO in in
Days Days & Bkrptcy Bankruptcy REO
<S> <C> <C> <C> <C> <C>
Trust A Principal Balan 16,309,699.68 3,096,964.19 739,064.07 4,356,737.23 879,149.58
% of Pool Balan 2.66070% 0.50523% 0.12057% 0.71074% 0.14342%
Number of Loans 293 65 16 67 16
% of Loans 3.02561% 0.67121% 0.16522% 0.69186% 0.16522%
Loans
in
Foreclosure
<C>
Trust A Principal Balan 7,476,602.67
% of Pool Balan 1.21971%
Number of Loans 135
% of Loans 1.39405%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust A
<S> <C>
Beginning Aggregate Mortgage Loan Balance 621,462,149.68
Prefunding 0.00
Principal Reduction 8,479,009.70
Ending Aggregate Mortgage Loan Balance 612,984,428.52
Beginning Aggregate Mortgage Loan Count 9815
Ending Aggregate Mortgage Loan Count 9684
Current Weighted Average Coupon Rate 9.670690%
Next Weighted Average Coupon Rate 9.662127%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust A
<S> <C>
Scheduled Principal 1,030,964.21
Curtailments 0.00
Prepayments 7,385,520.36
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 61,236.59
Other Principal 0.00
Less: Realized Losses (1,288.54)
Total Principal Reduction 8,476,432.62
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust A
<S> <C>
Accrued Servicing Fee for the Current Period 258,942.57
Less: Amounts to Cover Interest Shortfalls 6,138.87
Less: Delinquent Service Fees 57,579.92
Collected Servicing Fees for Current Period: 195,223.78
Advanced Principal N/A
Advanced Interest 1,128,482.59
</TABLE>
<TABLE>
<CAPTION>
Other Scheduled Interest Available Available Funds
Prepayment Unscheduled Principal Carry Funds Cap Cap Carry
Principal Principal Distribution Forward Current Forward
Class Distributed Distributed Amount Amount Amount Amount
<S> <C> <C> <C> <C> <C> <C>
Class A 7,385,52 61,2 8,476,432 -
-
Total 7,385,52 61,2 8,476,432 -
Applied
Realized Loss
Amount
<S> <C> <C> <C> <C> <C> <C>
Class A -
-
Total -
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Has a Remaining Over- Accelerated Extra Over
Trigger Event Pre-Funded Collateral Principal Principal Collateral
Occurred Amount Amount Distributed Distributed Amount
<S> <S> <C> <C> <C> <C> <C>
Trust A NO 0.00 22,101,235.21 1,703,559.74 0.00 23,803,506.41
Total 22,101,235. 1,703,55 0.00 23,803,506.41
Specified Over-
Over- Collateral
Collateral Deficit
Amount Amount
<S> <S> <S>
Trust A 24,746,219.80 0.00
Total 24,746,219.80 0.00
</TABLE>
<TABLE>
<CAPTION>
<S> <S> <C> <C> <C> <C> <C>
Trust A Insured Payment 0.00
Pool Rolling six month delinquency rate 0.01
Pool Cumulative Realized Losses - Average of 12 preceeding remittance periods 0.00%
Pool Cumulative Realized Losses - Percentage of the original aggregate loan balance 0.00%
Book Value of REO loans 952,440.00
Cumulative Number of Mortgage loans repurchased to date 11
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 3,822,244.08
Principal Collected: 8,416,484.57
Insurance Proceeds Received: -
Net Liquidation Proceeds: 59,948.05
Delinquency Advances on Mortgage Interest: 1,128,482.59
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Certificate Account: 12,355.61
Capitalized Interest Requirement: -
Capitalized Interest Fund Earnings 0.00
Capitalized Interest Account 0.00
Investment Earnings on Pre-Funding Account 0.00
Remaining Pre-Funding Account: -
Sum of the Above Amounts: 13,439,514.90
LESS:
Servicing Fees (including PPIS): 201,362.65
Dealer Reserve: -
Indenture Trustee Fees: 3,625.20
Owner Trustee Fees: 0
Insurance Premiums: 64,930.77
Reimbursement of Delinquency Advances/Servici -
Total Reductions to Available Funds Amount: 269,918.62
Total Available Funds: 13,169,596.28
</TABLE>
<TABLE>
EXHIBIT 1
ADVANTA Mortgage Loan Trust 1998-4B
Statement to Certificateholders
<CAPTION>
Original Prior
Face Principal
Class Value Balance Interest Principal Total
<S> <C> <C> <C> <C> <C>
B 350,000,000. 327,378,483. 1,632,959 7,287,65 8,920,616.02
B Certificate -
Totals 350,000,000. 327,378,483. 1,632,959 7,287,65 8,920,616.02
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
B 320,090,826. 5.792500% 5.863750%
B Certificate NA NA
Totals 320,090,826.64
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
B 00755WGD2 935.367095 4.665598 20.821876 25.487474 914.545219
B Certificate 0.000000 0.000000 0.000000 0.000000 0.000000
</TABLE>
<TABLE>
Delinquent Loan Information:
<CAPTION>
90+ Days Loans Loans
30-59 60-89 excldg f/c,REO in in
Days Days & Bkrptcy Bankruptcy REO
<S> <C> <C> <C> <C> <C>
Trust B Principal Balan 9,404,315.85 3,057,347.54 876,079.12 2,201,485.38 227,534.70
% of Pool Balan 2.82983% 0.91998% 0.26362% 0.66244% 0.06847%
Number of Loans 157 56 17 31 6
% of Loans 3.57794% 1.27621% 0.38742% 0.70647% 0.13674%
Loans
in
Foreclosure
<C>
Trust B Principal Balan 4,142,518.25
% of Pool Balan 1.24652%
Number of Loans 61
% of Loans 1.39015%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust B
<S> <C>
Beginning Aggregate Mortgage Loan Balance 338,687,814.23
Subsequent Mortgage Loans Added This Period 0.00
Principal Reduction 6,360,222.30
Ending Aggregate Mortgage Loan Balance 332,327,592.93
Beginning Aggregate Mortgage Loan Count 4469
Ending Aggregate Mortgage Loan Count 4388
Current Weighted Average Coupon Rate 9.674738%
Next Weighted Average Coupon Rate 9.667584%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust B
<S> <C>
Scheduled Principal 436,655.02
Curtailments 0.00
Prepayments 5,881,951.82
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 41,614.46
Other Principal 0.00
Less: Realized Losses (1.00)
Total Principal Reduction 6,360,220.30
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust B
<S> <C>
Accrued Servicing Fee for the Current Period 141,119.93
Less: Amounts to Cover Interest Shortfalls 4,477.96
Less: Delinquent Service Fees 28,380.63
Collected Servicing Fees for Current Period: 108,261.34
Advanced Principal N/A
Advanced Interest 564,633.48
</TABLE>
<TABLE>
<CAPTION>
Other Scheduled Interest Available Available Funds
Prepayment Unscheduled Principal Carry Funds Cap Cap Carry
Principal Principal Distribution Forward Current Forward
Class Distributed Distributed Amount Amount Amount Amount
<S> <C> <C> <C> <C> <C> <C>
Class B 5,881,95 41,6 6,360,220 -
- -
Total 5,881,95 41,6 6,360,220 -
Applied
Realized Loss
Amount
<S> <C> <C> <C> <C> <C> <C>
Class B -
-
Total -
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Has a Remaining Over- Accelerated Extra Over
Trigger Event Pre-Funded Collateral Principal Principal Collateral
Occurred Amount Amount Distributed Distributed Amount
<S> <S> <C> <C> <C> <C> <C>
Trust B NO 0.00 11,309,330.90 927,436.39 0.00 12,236,766.29
Total 11,309,330. 927,43 0.00 12,236,766.29
Specified Over-
Over- Collateral
Collateral Deficit
Amount Amount
<S> <S> <S>
Trust B 13,324,873.10 0.00
Total 13,324,873.10 0.00
</TABLE>
<TABLE>
<CAPTION>
<S> <S> <C> <C> <C> <C> <C>
Trust B Insured Payment 0.00
Pool Rolling six month delinquency rate 0.01
Pool Cumulative Realized Losses - Average of 12 preceeding remittance periods 0.00%
Pool Cumulative Realized Losses - Percentage of the original aggregate loan balance 0.00%
Book Value of REO loans 241,683.00
Cumulative Number of Mortgage loans repurchased to date 8
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 2,137,582.37
Principal Collected: 6,318,606.84
Insurance Proceeds Received: -
Net Liquidation Proceeds: 41,613.46
Delinquency Advances on Mortgage Interest: 564,633.48
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Certificate Account: 8,360.85
Capitalized Interest Requirement: 0.00
Capitalized Interest Fund Earnings 0.00
Capitalized Interest Account 0.00
Investment Earnings on Pre-Funding Account 0.00
Remaining Pre-Funding Account: -
Sum of the Above Amounts: 9,070,797.00
LESS:
Servicing Fees (including PPIS): 112,739.30
Dealer Reserve: -
Indenture Trustee Fees: 1,975.68
Owner Trustee Fees: 0
Insurance Premiums: 35,466.00
Reimbursement of Delinquency Advances/Servici -
Total Reductions to Available Funds Amount: 150,180.98
Total Available Funds: 8,920,616.02
</TABLE>
<TABLE>
EXHIBIT 1
ADVANTA Mortgage Loan Trust 1998-4C
Statement to Certificateholders
<CAPTION>
Original Prior
Face Principal
Class Value Balance Interest Principal Total
<S> <C> <C> <C> <C> <C>
C 100,000,000. 90,568,066 440,05 1,564,56 2,004,621.05
C Certificate -
Totals 100,000,000. 90,568,066 440,05 1,564,56 2,004,621.05
</TABLE>
<TABLE>
<CAPTION>
Current Pass-Through
Realized Deferred Principal Rates
Class Losses Interest Balance Current Next
<S> <C> <C> <C> <C> <C>
C 89,003,499. 5.642500% 5.713750%
C Certificate NA NA
Totals 89,003,499.56
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Principal Principal
Class CUSIP Balance Interest Principal Total Balance
<S> <C> <C> <C> <C> <C> <C>
C 00755WGE0 905.680667 4.400539 15.645672 20.046211 890.034996
C Certificate 0.000000 0.000000 0.000000 0.000000 0.000000
</TABLE>
<TABLE>
Delinquent Loan Information:
<CAPTION>
90+ Days Loans Loans
30-59 60-89 excldg f/c,REO in in
Days Days & Bkrptcy Bankruptcy REO
<S> <C> <C> <C> <C> <C>
Trust C Principal Balan 2,683,394.05 796,298.74 0.00 1,058,391.47 52,200.00
% of Pool Balan 2.86104% 0.84902% 0.00000% 1.12846% 0.05566%
Number of Loans 35 10 0 13 1
% of Loans 3.47567% 0.99305% 0.00000% 1.29096% 0.09930%
Loans
in
Foreclosure
<C>
Trust C Principal Balan 2,775,757.76
% of Pool Balan 2.95952%
Number of Loans 33
% of Loans 3.27706%
</TABLE>
<TABLE>
General Mortgage Loan Information:
<CAPTION>
Trust C
<S> <C>
Beginning Aggregate Mortgage Loan Balance 95,083,797.79
Prefunding N/A
Principal Reduction 1,292,950.53
Ending Aggregate Mortgage Loan Balance 93,790,847.26
Beginning Aggregate Mortgage Loan Count 1022
Ending Aggregate Mortgage Loan Count 1007
Current Weighted Average Coupon Rate 9.612482%
Next Weighted Average Coupon Rate 9.608545%
</TABLE>
<TABLE>
Mortgage Loan Principal Reduction Information:
<CAPTION>
Trust C
<S> <C>
Scheduled Principal 49,835.84
Curtailments 0.00
Prepayments 1,243,114.69
Repurchases 0.00
Substitutions 0.00
Liquidation Proceeds 0.00
Other Principal 0.00
Less: Realized Losses 0.00
Total Principal Reduction 1,292,950.53
</TABLE>
<TABLE>
Servicer Information:
<CAPTION>
Trust C
<S> <C>
Accrued Servicing Fee for the Current Period 39,618.25
Less: Amounts to Cover Interest Shortfalls 127.36
Less: Delinquent Service Fees 8,260.94
Collected Servicing Fees for Current Period: 31,229.95
Advanced Principal N/A
Advanced Interest 157,962.83
</TABLE>
<TABLE>
<CAPTION>
Other Scheduled Interest Available Available Funds
Prepayment Unscheduled Principal Carry Funds Cap Cap Carry
Principal Principal Distribution Forward Current Forward
Class Distributed Distributed Amount Amount Amount Amount
<S> <C> <C> <C> <C> <C> <C>
Class C 1,243,11 1,292,950 -
- -
Total 1,243,11 1,292,950 -
Unpaid
Realized Loss
Amount
<S> <C> <C> <C> <C> <C> <C>
Class C -
-
Total -
</TABLE>
<TABLE>
<CAPTION>
Prior Current
Has a Over- Accelerated Extra Over
Trigger Event Collateral Principal Principal Collateral
Occurred Amount Distributed Distributed Amount
<S> <S> <C> <C> <C> <C>
Trust C NO 4,515,731.06 271,616.64 0.00 4,787,347.70
Total 4,515,731 271,61 0.00 4,787,347.70
Specified Over-
Over- Collateral
Collateral Deficit
Amount Amount
<S> <S> <S>
Trust B 4,867,085.20 0.00
Total 4,867,085.20 0.00
</TABLE>
<TABLE>
<CAPTION>
<S> <S> <C> <C> <C> <C> <C>
Trust C Insured Payment 0.00
Pool Rolling six month delinquency rate 0.02
Pool Cumulative Realized Losses - Average of 12 preceeding remittance periods 0.00%
Pool Cumulative Realized Losses - Percentage of the original aggregate loan balance 0.00%
Book Value of REO loans 55,398.00
Cumulative Number of Mortgage loans repurchased to date 3
</TABLE>
<TABLE>
TOTAL AVAILABLE FUNDS:
<CAPTION>
<S> <S> <C> <C> <C>
Current Interest Collected: 595,435.62
Principal Collected: 1,292,950.53
Insurance Proceeds Received: -
Net Liquidation Proceeds: -
Delinquency Advances on Mortgage Interest: 157,962.83
Delinquency Advances on Mortgage Principal NA
Repurchase and Substitution Amounts: -
Trust Termination Proceeds: -
Investment Earnings on Note Account: 1,882.42
Sum of the Above Amounts: 2,048,231.40
LESS:
Servicing Fees (including PPIS): 31,357.31
Dealer Reserve: -
Indenture Trustee Fees: 554.66
Owner Trustee Fees: 0
Insurance Premiums: 11,698.38
Reimbursement of Delinquency Advances/Servici -
Total Reductions to Available Funds Amount: 43,610.35
Total Available Funds: 2,004,621.05
</TABLE>
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